There’s a common real estate misconception that properties are easy to manage among those who have never tried it. Those who have tried it know that the opposite is true. Owning any type of property is a lot of work, but a rental property is all that work and then some. Trying to do it all on your own is unwise, especially if you’re new to the game. Relying on one-man operations and local mom-and-pop property managers may save you money in the beginning, but they most likely don’t offer expertise in every area of management (even if they claim as much) and can end up costing you more money in the long run than a professional team of Fort Worth real estate management like Specialized Property Management offers.
We understand that renting out a property, and doing it correctly, takes a team of experts in every area from marketing and tenant screening to collecting rent and complying with legal laws. It’s your decision how much your time is worth, but when you think about the amount of money and time you’ll save in the long run by investing upfront with a property management company you can rely on, you’ll realize that trusting Specialized Fort Worth Property Management is the wise choice. We’ve listed all the services offered at Fort Worth Property Management, and how they can help you live the dream of enjoying your ROI without the management headaches.
Reducing and Avoiding Vacancies
The last thing you should be worrying about when you own a rental property is vacancies. When no one is occupying your unit, you’re losing money, which means you have to stress about how to market your property and find new tenants fast. This can lead to accepting any willing tenant and causing problems later on because of insufficient screening. Our Specialized Fort Worth real estate management company can reduce vacancies and save you money by managing tenants in a professional way, collecting rent consistently and efficiently, and always marketing your property using the best marketing techniques to keep new, reliable tenants on the horizon and ready to move in at a moment’s notice.
Selecting and Enforcing the Best Rental Rates
Most property owners want to charge enough to cover their expenses plus make a profit, but aren’t sure what’s marketable for the area. Our property management company will assess the area and see what current rental rates are. We’ll also compare with the quality and location of your property and set the best rental rate to ensure your costs are covered, tenants are happy, and you’re not exceeding any rental rate limits for the area. The right price will increase the marketability of your property, help make you more money on a consistent basis, and attract the right tenants.
Specialized Property Management is the rare Fort Worth real estate management company that will make sure to screen each and every tenant so that you don’t have to worry about unreliable income or disrespectful neighbors. We screen potential tenants by performing background checks, calling references, checking their credit and income, and requiring a thorough questionnaire. The best tenants will pay their rent on time, keep your property clean, and renew their contract year after year. We target those people through our marketing techniques and setting the optimal rental rate for the area.
Dealing with Tenants
The number one reason you should trust our property management company rather than try to do it all yourself? You don’t have the time or energy to deal with tenants or their 1am phone calls. We have an entire team dedicated to handling all your tenants’ needs efficiently and effectively, in a way that makes them happy and doesn’t take up your time or interfere with your schedule. We’ll answer their phone calls and complaints in a timely manner, scheduling high quality maintenance from reliable vendors when needed as soon as possible.
If you want to fill vacancies, you’ve got to be ahead of the game when it comes to advertising. Our team includes marketing experts who will advertise aggressively and generate lots of interested callers. Don’t block your own cash flow and slow down the process by trying to do it all yourself. We’ll meet with potential tenants, perform walk-throughs, and mediate the relationships between tenants and neighbors while you focus on spending your time however you want to. At Specialized Fort Worth real estate management, we now offer the time saving tool of electronic showings. We understand that some people don’t have the time or patience to coordinate a walk-through with one of our team members and we don’t want to lose their business because of a scheduling conflict. That’s why we allow them to view your property on their own time through access to a lockbox after they’ve been screened and had their identity verified for security purposes. This process helps speed up the process, reducing vacancies and establishing trust with your future tenant.
The Office Work
The paperwork alone of owning a rental property is a headache. Let us take care of administrative office management record keeping, preparing reports, accounting, contracting maintenance, creating budgets, and writing lease agreements. All of this paperwork is time-consuming and easy to make simple mistakes on. Our team of Fort Worth real estate management professionals will stay on top of everything for you, keeping the office part of management organized and mistake-free. Trying to do all these tasks on your own can be time-consuming and lead to the loss of potential tenants or legal issues due to mere disorganization or procrastination.
The School Work
If your unit is in a HomeOwners’ Association community, you may be required to attend classes or meetings for your property. These classes help you stay up to date on rental laws, tax information, and the latest approaches to property management. Your representation will be desired and possibly mandated at community meetings, local board meetings, and property investment meetings. Save yourself the time and hassle by hiring our team of experts at Specialized Fort Worth real estate management. We are experts on the topics you’ll learn about in those classes and if need be, we can represent your property for you at meetings.
Collecting and Depositing Rent
“My check is still in the mail” sound familiar? Every day that you sit around waiting for a check to arrive or for rent to come through, you’re losing money. We’ve created systems like online payment options and a 24/7 online tenant portal to make sure that rent is collected quickly and in turn, deposited to you right away. Our effective tenant screening system combined with our smooth rent collection process makes payday something you can finally rely on from your property.
Cost-effective Maintenance and Vendors
One of the hardest parts about trying to manage your own company is finding maintenance specialists, contractors, cleaning services, landscapers, and other vendors on whom you can rely. These kinds of businesses are known for being hard to find and even harder to form a long-term relationship with. Most Fort Worth real estate management companies won’t take the time to find quality vendors, costing you more money when one doesn’t show up to a job or perform a task correctly and efficiently. Because we are a reliable source of income for these types of companies, we’ve collected a list of vendors that we know we can trust to not only perform high-quality work, but to show up, be on time, and charge fair rates.
Meeting and Addressing Legal Issues
There are so many codes and laws on both the local, state, and federal levels and keeping track of them plus the constant changes is exhausting. That’s why you should trust our experts who know exactly what the laws are and will update you as they change. We can protect you from making any mistakes that you may unknowingly commit which could lead to costly fines. Work with us and we’ll make sure that you’re in compliance with fair housing rules, discrimination laws, and property laws on every level. We also offer legal services as needed.
Fort Worth Real Estate Management
Being wise about your property investment means setting realistic expectations. Owning a property itself is time-consuming and labor-intensive. Renting it out to tenants is even more so. Turn over all the stress and hassle of the management duties to our team of experienced professionals at Specialized Fort Worth real estate management company to avoid common mistakes made by Fort Worth property managers, and enjoy your free time while the rent payments roll in each month.
When you actually crunch the numbers, you’ll see that the time and money you save by delegating each of these tasks to our team of professionals who work together to manage every sector for you is undeniable. With over 30 years in the business, the knowledge and expertise we have at Specialized Property Management is worth the investment. We are one of the industry leaders in Fort Worth real estate management because of our proven systems. Trust us with your property for complete peace of mind. Give us a call today to find out more about how we can help with your properties and increase your return on investment.